BY NKECHI NAECHE-ESEZOBOR—The National Insurance Commission (NAICOM) and the Nigerian Insurers Association (NIA) have called for deeper collaboration with the Nigerian Association of Insurance and Pension Editors (NAIPE) to accelerate development across the country’s insurance and pension sectors.

Speaking on Thursday in Victoria Island, Lagos, during the inauguration of NAIPE’s newly elected executive members, representatives of both regulatory bodies emphasized that a strong partnership with the media is vital for driving key industry reforms, strengthening economic resilience, and boosting public confidence.

Addressing the newly inaugurated executives, NAICOM’s Commissioner for Insurance, Mr. Olusegun Omosehin—represented by Dr. Julius Odidi—urged insurance journalists to maintain high standards of professionalism and integrity in their reporting.

He noted that because the industry relies heavily on public trust, media professionals play a crucial role in translating complex regulatory policies into clear, accessible information for everyday citizens, ultimately supporting market penetration and consumer protection across Nigeria.

Reminding them that insurance and pension sectors thrive on trust, he implored them to keep expanding the knowledge of the industry by doing more of interpretative journalism for citizens to understand insurance in simple terms.

“The developmental agenda of NAICOM is anchored on reforms that strengthen regulation, deepen market penetration, and enhance consumer protection. These reforms ranging from digital transformation, risk-based supervision, financial inclusion, to pension integration require not only technical execution but also effective communication. This is where synergy with NAIPE becomes indispensable.

“Together, we can ensure that the public understands the benefits of reforms, that operators embrace compliance with enthusiasm, and that the industry’s image is projected positively. The partnership between NAICOM and NAIPE is therefore not a matter of convenience but of necessity.

“As regulators, we rely on your editorial expertise to amplify our vision. As journalists, you rely on our openness and transparency to enrich your reportage. This mutual dependence is the foundation of sustainable growth for the sector”

The Commissioner affirmed that, NAIPE’s role in disseminating accurate information is critical to the success of the industry.

He stressed that, leadership is both a privilege and a responsibility.

And as the new excos steps into roles that demand vision, courage, and dedication, he urged them to build on the solid foundation laid by its predecessors, be innovative in approach and uphold the values of professionalism and integrity that define its association.

“Your tenure should be marked by stronger collaboration with NAICOM, deeper engagement with industry stakeholders and a renewed commitment to educating the public on the importance of insurance and pensions in national development.

“Remember that your voice shapes the narrative and the narrative shapes the future. On behalf of NAICOM, I assure you of our unwavering support. We recognize the importance of your work and will continue to partner with you in every possible way, ” he stressed.

He believes that, with collaboration, reforms can be driven not only to strengthen the industry but also contribute to Nigeria’s economic resilience and social security.

“As you embark on this journey, may your tenure be fruitful, impactful and memorable. May you find fulfillment in service and may your leadership inspire confidence and progress. Let us continue to work hand in hand, regulators and editors alike, to build an insurance and pension industry that Nigerians can trust, rely upon, and be proud of” he added.

Also, Chairman, Nigerian Insurers Association (NIA), Mrs. Ebelechukwu Nwachukwu, represented by the Director General/CEO, NIA, Mrs Bola Odukale expressed optimism over new leadership of NAIPE, saying, NIA looks forward to strengthening  collaboration with the Association.

“I have no doubt that under her leadership, NAIPE will attain even greater heights. Your contributions have not only enhanced the visibility and reputation of the insurance industry but have also strengthened national conversations around financial inclusion, economic resilience and sustainable development, ” she emphasised.

She affirmed NIA’s commitment to sustaining and deepening strategic partnership through continuous engagement, knowledge sharing and collaborative initiatives that will further promote the value of insurance to individuals, businesses and the Nigerian economy.

“As you assume the responsibility of leading this esteemed Association, I wish you and your team wisdom, strength, unity of purpose and outstanding success. May your tenure be marked by impactful leadership, professional excellence and meaningful contributions to the growth of insurance journalism and the advancement of Nigeria’s insurance industry” she added.

In her acceptance speech, Mrs. Ebere Nwoji assured stakeholders she would keep the candle burning and the light brighter for the next generation to see her regime’s footprints.

Nwoji reiterated her administration’s agenda: to ensure unity, togetherness and effective coverage of insurance and pension sectors.

She assured stakeholders of NAIPE resolve to keep telling the insurance and pension stories consistently as means of long term savings, financial security and independence.

Given the assurance of propagating the gospel of insurance and pension, she urged operators to ensure that they win public trust.

“This trust can only be won when they keep the hallowed promise of utmost good faith to the customer. This stands as an oath to the insured and contributors from the onset of insurance contract.

In the pension industry, she maintained that operators’ ability and willingness to meet expectation guarantees the workability and mass patronage of the Personal Pension Plan which is a big challenge starring on the faces of both  operators and journalists covering the beat.

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BY NKECHI NAECHE-ESEZOBOR —In a move to take the frustration out of hospital visits, AXA Mansard Plc has introduced Karis—a WhatsApp-based platform designed to drastically reduce wait times and simplify health insurance for everyday Nigerians.

The platform allows enrollees to bypass long phone holds, check their benefits, and secure instant care approvals through an app millions already use every day

Speaking at the inauguration of the new executives of the Nigerian Association of Insurance and Pension Editors(NAIPE) in Victoria Island, Lagos on Thursday, the Head of Marketing and Corporate Communications, AXA Mansard insurance Plc, Mr Olusesan Ogunyooye said, Karis was developed to address the frustrations often experienced by customers in accessing healthcare services.

According to him, the platform seeks to eliminate long waiting times for treatment authorisation, uncertainty about health plan benefits and dependence on customer care or employers for information.

Ogunyooye added that, the solution allows enrollees to access healthcare services directly through WhatsApp without downloading a separate application.

He explained that, users simply send a message to the dedicated WhatsApp number, after which the chatbot provides a welcome message, consent notification, privacy policy and a menu of available services.

According to him, the platform is linked to the enrollee’s Health Maintenance Organisation (HMO) identification number and registered phone number, enabling customers to verify their identity and access services seamlessly.

He noted that, enrollees could use the platform to obtain treatment authorisation, verify healthcare benefits, locate accredited healthcare providers and access other insurance-related information in real time.

“The goal is to remove unnecessary delays that often prevent customers from receiving timely medical attention.

“By leveraging a platform that millions of Nigerians already use daily, we are making health insurance services more accessible, convenient and efficient,” Ogunyooye said.

He pointed out thatl, the innovation would also benefit healthcare providers by reducing administrative bottlenecks, accelerating treatment approvals and improving patient flow at hospitals.

According to him, the initiative aligns with AXA Mansard’s commitment to deploying technology to enhance customer experience and improve access to quality healthcare services.

Ogunyooye said the platform reflected the company’s customer-centric approach and its resolve to ensure that healthcare delivery was seamless and responsive to the needs of enrollees.

He expressed confidence that Karis would strengthen confidence in health insurance by making it easier for customers to access care whenever the need arises.

Applauding AXA Mansard Insurance Plc for sponsoring the Inauguration ceremony, the new chairperson of NAIPE, Mrs. Ebere Nwoji urged the underwriting firm to continue to prioritise claims payments, just as it has always do in a move to deepen insurance penetration in the grassroots.

“AXA Mansard is known for quality, innovation in service delivery, claims payments and prudent management. We trust that the company will continue to grow and even becomes bigger post -recapitalisation exercise. We believe in the company and we promise to sustain this partnership to increase insurance awareness, education and sensitisation across the country, ” she pointed out.

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According to notice filed by the company on the floor of Nigerian Exchange Plc, to all  dealing members and stockbrokers, Sovereign Trust the group’s total assets grew by 43% surging from ₦28.31 billion in June 2025 to ₦40.47 billion in June 2026.

The insurer equity base also went up from ₦12.49 billion to ₦23.20 billion expanding by 86%, signaling robust capital adequacy and underlying balance sheet strength.

Insurance service expenses for the period under review dropped by 51% from  ₦19.55 billion to ₦9.50 billion while net expenses from reinsurance contracts appreciated to ₦11.01 billion, impacting overall operational margins.

Investment returns rose sharply from 1.03 billion in H1 2025 to  ₦2.96 billion in same time of 2026, indicating 188 percent increase, demonstrating effective asset management in a high-yield environment.

While Earnings Per Share stood at 5 kobo for the group (6 kobo at the company level.

Overall, the H1 2026 performance highlights Sovereign Trust Insurance’s resilience in fortifying its capital position and leveraging investment returns to buffer operational shifts in a dynamic macroeconomic environment.

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With no approved treatment or vaccine available for the highly contagious viral disease, the insurer is emphasizing proactive risk management to protect livestock, prevent devastating herd losses, and safeguard farmers’ livelihoods.

African Swine Fever is a highly contagious viral disease that affects pigs and can spread rapidly through herds, often resulting in significant mortality and severe financial losses for farmers.

While the disease poses no risk to human health, there is currently no approved treatment or commercially available vaccine, making prevention through strict biosecurity the most effective line of defence.

In response, the company outlined practical measures to help prevent the introduction and spread of the disease.

The advisory encourages farmers to tighten access to their farms, quarantine newly introduced pigs, strengthen cleaning and disinfection practices, monitor livestock for early signs of infection, and promptly report suspected cases to the appropriate veterinary authorities.

Speaking on the need for heightened vigilance, Ayoola Fatona, Global Head of Agricultural Risk Solutions at LeadwayAssurance, said the outbreak serves as an important reminder that proactive risk management is just as critical as financial protection.

Fatona said, “Insurance is designed to help farmers recover from unforeseen losses, but our first priority is helping them avoid those losses altogether. African Swine Fever has the potential to wipe out entire herds within a short period, which is why prevention cannot be treated as an afterthought. Strengthening farm biosecurity today is one of the most important investments pig farmers can make in protecting their livelihoods, preserving business continuity and safeguarding Nigeria’s livestock industry.”

He added, “At Leadway, we see our role as going beyond providing insurance cover. We work alongside farmers to build resilience before risks materialise. Through expert guidance, risk improvement initiatives and continuous engagement, we are committed to helping livestock farmers strengthen their operations and remain better prepared for emerging threats such as African Swine Fever.”

It also reminded insured farmers of their responsibility to maintain appropriate biosecurity standards and comply with statutory disease control measures as part of responsible farm management. Farmers are encouraged to review their existing biosecurity protocols and implement any necessary improvements without delay.

As part of its broader response, Leadway will continue to engage farmers through educational campaigns, radio programmes, webinars, community town halls and stakeholder partnerships to promote disease awareness, encourage preventive action and support the long-term resilience of Nigeria’s agricultural sector.

About Leadway Assurance Company Limited

Leadway Assurance Company Limited is one of Nigeria’s leading insurance providers, offering a comprehensive range of life and non-life insurance solutions to individuals, businesses and institutions. Through its agricultural insurance offerings, Leadway partners with farmers to strengthen resilience against agricultural risks by combining financial protection with proactive risk management, helping safeguard livelihoods and promote sustainable agricultural growth.

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The Commissioner for Insurance, Olusegun Ayo Omosehin, disclosed this today when the Board and Management of Noor Takaful led by the Chairman of the Company, Amb. Shuaibu Ahmad, visited  the commission.

Speaking during the visit, the Commissioner for Insurance commended the company’s progress and urged greater ambition in expanding market reach, driving product innovation, and raising public awareness.

As Noor Takaful approaches its 10th anniversary, the Commissioner encouraged the leadership to accelerate outreach and customer education, highlighting Takaful’s role in broadening access to protection for underserved communities.

Both institutions expressed optimism about strengthening collaboration to promote trust, innovation, and inclusive insurance for all Nigerians.

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This is ahead of the conference scheduled for Friday, September 18, 2026, at Balmoral Hall, Sheraton Hotel, Lagos, with the theme “Building Insurance That Connects.”

As Official Insurer, Leadway Assurance brings a five-year streak of unwavering commitment to the platform, a signal of an enduring partnership with IMT and a sustained investment in reshaping how insurance is experienced across Nigeria.

With a legacy spanning over five decades of underwriting excellence and customer trust, the company continues to champion tech innovations toward an insurance sector that is more convenient, more accessible, and more attuned to the everyday needs of the people it serves.

CubeCover operates where insurance, technology and everyday consumer experience meet. As Official Digital Insurer, it represents the growing role of artificial intelligence in making insurance more accessible, relevant and embedded in daily life. The company has reached over 4.5 million users through telecoms, fintech, and retail channel integrations, powered by plug-and-play API infrastructure, USSD, and mobile, with digital products spanning health, auto, property, life, and device insurance.

CubeCover is ambitious about affordable insurance for over 10 million Nigerians by 2027, speaking directly to the access agenda at the heart of IMT 5.0.

Vitse Technologies joins as Official Technology Partner with a technology-first approach to insurance management across Africa. Its suite of solutions spans general and life insurance administration, micro-insurance, broking, claims adjustment, agency management and automated accounting, helping insurers streamline policy administration, claims processing, compliance, customer engagement and other operational processes on a single connected platform.

Speaking on the partnerships, Odion Aleobua, Convener, Insurance Meets Tech and CEO, Creato Urban, said, “We are delighted to welcome Leadway Assurance, CubeCover and Vitse Technologies as early sponsors for IMT 5.0. Each organisation represents a critical part of the transformation taking place across the insurance ecosystem, from the depth and experience of traditional underwriting to the digital models making insurance more accessible, and the technology infrastructure enabling insurers to operate smarter and serve customers better. Their participation reinforces our belief that the future of insurance will not be built by one sector alone, but through strategic partnerships between insurers, technology companies, customers and the wider ecosystem.”

About Insurance Meets Tech

Insurance Meets Tech (IMT) is West Africa’s leading platform for conversations and collaborations across insurance, technology, innovation and financial inclusion. The platform convenes industry leaders, regulators, founders, investors and innovators to explore the ideas, technologies and partnerships shaping the future of insurance in Africa.

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Veritas Kapital Assurance Plc is actively challenging this status quo with a suite of accessible retail insurance solutions starting at just ₦1,750.
The initiative aims to make risk protection straightforward and affordable for individuals, families, and micro-enterprises nationwide.

Tailored for everyday needs, the plans are structured across Silver, Gold, and Platinum tiers, giving policyholders the flexibility to choose coverage suited to their budget. Key policy options include:
Third-Party Motor Insurance

 Householder & Fire Insurance

 Personal Accident Insurance

 Business Interruption Insurance

Speaking on the launch, Dr. Adaobi Nwakuche, Managing Director and CEO of Veritas Kapital Assurance Plc, emphasized the company’s mission to democratize financial security.

“Too many Nigerians still believe insurance is beyond their reach or intended solely for large organizations. We are changing that narrative,” said Dr. Nwakuche. “Whether you are a salary earner, a trader, a young professional, or a small business owner, you deserve the peace of mind that comes with financial protection.”

She noted that while many only consider coverage after experiencing a crisis, proactive insurance helps individuals and businesses bounce back faster from fires, accidents, or operational halts.

“For small businesses, even a minor interruption can lead to severe financial setbacks. Our Business Interruption Insurance is specifically designed to build resilience and speed up recovery when unforeseen events occur,” she added.

To ensure seamless access, Veritas Kapital Assurance has simplified the purchasing journey by integrating digital sales channels—including a dedicated WhatsApp purchasing platform—allowing customers to secure coverage instantly from anywhere.

As Nigeria continues its push for greater financial inclusion, Veritas Kapital Assurance remains committed to closing the coverage gap, turning insurance from an perceived luxury into an everyday financial essential.

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Speaking at the official launch of the Lagos State Building Insurance Scheme, the Chairman of  NIA and Managing Director/CEO of Rex Insurance Ltd, Mrs. Ebelechukwu Nwachukwu, praised Governor Babajide Sanwo-Olu’s administration for bridging the long-standing gap between policy and enforcement.

She said, “Today is not merely the launch of a new insurance scheme. It is the launch of a new way of protecting lives, property, and the future of Lagos State. This initiative demonstrates what is possible when government, regulators, and the insurance industry work together with a shared purpose to build a safer, more resilient society.

“Building insurance has existed in our laws for many years. What has often been missing is effective implementation. Today, Lagos State is bridging that gap. By combining geospatial intelligence, digital technology, and structured enforcement, the State is transforming a legal requirement into practical protection for its people. That is worthy of recognition.

“More importantly, it sends a powerful message that insurance is not an afterthought following disaster; it is an essential part of building safer communities before disaster occurs.

“Behind every building is more than bricks and concrete. There are families. There are businesses. There are livelihoods. There are dreams built over many years. When a building collapses, when fire destroys properties, or when floods devastate communities, it is not only infrastructure that is lost—it is hope, opportunity, and financial security.

“Insurance cannot prevent every tragedy. But it can ensure that tragedy does not become permanent hardship. That is why I say today, especially to property owners and developers: Insurance is not a burden placed upon you, but a protection extended to you.

“It is one of the smartest investments anyone can make in safeguarding lives, assets, and the future.

“This Scheme is not only good for Lagos; it is good for Nigeria. It demonstrates that compulsory insurance, when supported by strong institutions, effective technology, and stakeholder collaboration, can simultaneously protect citizens, strengthen public confidence, and deepen insurance penetration.”

On the part of the NIA, she added, “For our member companies, this represents an opportunity and a responsibility: an opportunity to extend protection to more Nigerians, and a responsibility to deliver professional service, fair underwriting, and prompt claims settlement.

“As our regulator has consistently reminded us, the greatest asset of our industry is trust. Every policy issued under this Scheme is an opportunity to strengthen that trust. Every claim settled promptly is an opportunity to reinforce public confidence.

“My hope is that what Lagos has begun today will inspire similar initiatives across other states of the Federation. The challenges of fire, flooding, and building collapse are not unique to Lagos. The Nigerian Insurers Association stands ready to work with other state governments to support practical initiatives that improve compliance, strengthen resilience, and expand access to insurance protection.”

She assured that the Association will continue to support its member companies while working closely with government agencies and regulators. “We will promote public awareness of the value of insurance and continue to champion an insurance industry that is professional, trusted, and responsive.

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The Rights Issue was undertaken in response to the NAICOM’s directive on the recapitalization of Insurance Companies in Nigeria.

The conclusion of the capital-raising which was fully subscribed reflects the continued confidence of stakeholders in the Company’s Board and Management, governance, financial performance, and strategic direction.  The Company remains committed to full regulatory compliance and prudent risk management. With its strengthened capital base, the Company is well positioned to provide more robust service to its teeming customers and deliver sustainable value to stakeholders.

The proceeds from the Issue will be used to meet the minimum capital requirement, in compliance with the new regulatory capital requirements, and to implement business expansion in line with the long-term strategic focus of the company.

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Speaking at the official lunch of the scheme, Olusegun Ayo Omosehin Commissioner for Insurance/Chief Executive, NAICOM, said the commission will provide the regulatory backing, ensuring that every policy issued under it is underwritten by companies licensed and supervised by the Commission, and by no one else.

The commissioner who was represented  by the Deputy Commissioner for Insurance, Finance and Administration Mr. Ekerete Ola Gam-Ikon, said “We will support Lagos State in the fight against fake certificates and unlicensed operators, because a compulsory scheme is only as strong as the integrity of the cover behind it.

“The Commission will support and insist upon a scheme architecture that is open, transparent, competitive, and accessible to all insurance operators duly licensed by the National Insurance Commission, Nigeria.

He added that “No compulsory insurance framework of this significance should be structured in a manner that excludes qualified licensed operators, creates undue monopoly, restricts fair market participation, or denies the insuring public the benefit of choice, capacity, innovation, and service competition.

“The role of the regulator is to protect the policyholder, preserve market integrity, and ensure that every eligible operator who meets the Commission’s licensing, solvency, conduct, and claims-payment standards is given a fair opportunity to participate.

“We will treat this Scheme as a national reference point. If it succeeds here, and it must, it becomes the template by which other States across the Federation can protect their own citizens. Lagos, as so often, is lighting the path.

“This is about people. It is about the market trader in Alakija, the family in Lekki, the worshipper, the tenant, the child asleep in a building that its owner did not think to insure.

”The measure of this Scheme will not be the size of the ceremony we hold today. It will be the number of Lagosians who, on the worst day of their lives, discover that they are not alone and that there is cover, and there is recovery.”

He commended  the vision and the courage of Governor Babajide Sanwo-Olu, and the diligence of the Office of the Special Adviser on e-GIS and Urban Development in bringing us to this day.

He reassured that the Commission stands firmly with the Government and people of Lagos State in this historic step for the safety of our people.

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